The long-term opportunities and challenges for African private equity, and the important role of good governance were the central themes underpinning the dinner debate hosted by the Investment Institute of Investec Asset Management at The Connaught in London. Lord Mark Malloch-Brown chaired a lively discussion involving the African Celtel-entrepreneur and governance champion, Dr Mo Ibrahim, Hendrik du Toit, CEO of Investec Asset Management, and a small group of senior leaders active in African investment.

The General consensus was that the continent has had a remarkable decade of growth and development, but the continuation of Africa’s growth is not a foregone conclusion. The challenges for the continent are clear and significant and recent setbacks in political stability, especially, have caused many to question the sustainability of Africa’s rise. While the opportunity for investment returns over the long term are apparent, global investors must carefully navigate Africa’s opportunity set in an objective way. This requires an appreciation of economics and business as well as governance and institutions.